UP Hotels , a prominent player in the hospitality sector, has announced a significant development in its voluntary delisting process. The company has set August 1, 2025, as the cut-off date for shareholders to participate in a postal ballot regarding the voluntary delisting proposal.

Postal Ballot Details

The board of UP Hotels has fixed Friday, August 1, 2025, as the crucial date to determine the eligibility of shareholders to cast their votes electronically through the postal ballot process. This decision comes as part of the company's ongoing efforts to seek shareholder approval for the voluntary delisting proposal put forward by the Acquirers.

Significance of the Cut-off Date

The cut-off date serves as a pivotal point in the delisting process:

• Shareholder Eligibility: Only shareholders on record as of August 1, 2025, will be entitled to participate in the electronic voting process.
• Vote Casting: Eligible shareholders will have the opportunity to cast their votes on the voluntary delisting proposal through the electronic postal ballot system.
• Decision Making: The outcome of this vote will play a crucial role in determining the future direction of UP Hotels' listing status.

Company's Communication

In an official communication to the BSE Limited, dated July 31, 2025, UP Hotels' Company Secretary, Pra handra Prusty, stated:

"The board has fixed Friday, August 1, 2025 as the cut-off date to record entitlement of the members to cast their vote electronically for the business to be transacted through Postal Ballot."

This announcement follows the company's previous intimation on July 27, 2025, regarding the initiation of the Postal Ballot process for the voluntary delisting proposal.

About UP Hotels

UP Hotels, part of the Clarks Group of Hotels, operates several prominent properties including:

• Clarks Shiraz in Agra
• Clarks Avadh in Lucknow
• Clarks Amer in Jaipur
• Clarks Khajuraho in Khajuraho

Shareholders and investors of UP Hotels are advised to take note of this important date and participate in the upcoming postal ballot process to have their say in the company's proposed voluntary delisting.

UP Hotels , a prominent player in the hospitality sector, has taken a significant step towards delisting its shares from the BSE Limited. The company's Board of Directors has given the green light to a voluntary delisting proposal, setting the stage for a potential exit from the public markets.

Delisting Proposal Details

The delisting offer, initiated by the company's promoters Mr. Apurv Kumar and Mr. Anoop Kumar, aims to acquire all the equity shares held by public shareholders. Currently, the promoters hold a 2.25% stake in the company, while public shareholders own 11.61% of the total equity.

Floor Price and Valuation

A key aspect of the delisting proposal is the floor price, which has been set at ₹900 per share. This price point was determined after considering three independent valuations:

The floor price of ₹900 represents a premium over these valuations, potentially offering an attractive exit opportunity for public shareholders.

Shareholding Structure

UP Hotels Limited has a total of 54,00,000 equity shares with a face value of ₹10 each. The current shareholding structure is as follows:

Regulatory Compliance and Next Steps

The company has appointed Mr. Deepak Bansal as the scrutinizer to oversee the postal ballot process, ensuring a fair and transparent approach to seeking shareholder approval for the delisting.

It's worth noting that UP Hotels Limited has been granted relaxation by the Securities and Exchange Board of India (SEBI) regarding compliance with minimum public shareholding norms. This relaxation, provided through a SEBI order dated December 3, 2024, has paved the way for the current delisting proposal.

Market Implications

The voluntary delisting, if successful, would mark UP Hotels Limited's exit from the BSE, where it is currently listed under the scrip code 509960. This move could potentially provide the company with greater operational flexibility and reduce the regulatory burden associated with maintaining a public listing.

As the delisting process unfolds, shareholders and market observers will be keenly watching the response to the floor price and the overall success of the delisting offer. The coming weeks are likely to be crucial as the company seeks the necessary approvals and navigates the regulatory landscape to complete the delisting process.